FBCCI demands SME loans at 9pc interest
UNB
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday urged the government to provide bank loans at 9 percent interest for the Small and Medium Enterprises (SME) sector, reports UNB.
FBCCI came up with the urge at a views exchange programme on Problems and Possibilities of SME Sector, organised by the SME Standing Committee of FBCCI at its office in the capitals Motijheel area.
Industries Minister Amir Hossain Amu was present at the programme as the chief guest while FBCCI president Abdul Matlub Ahmad, Bangladesh Bank deputy governor SK Sur Chowdhury, SME Foundation chairman KM Habib Ullah were also present.
Mentioning that the key problem to the SME sector is bank loan, FBCCI president Abdul Matlub said the development of the sector is relatively low as banks offer loans at 17-18 percent interest to the sector.
SME loans should be given at 9 percent interest to maintain positive economic growth in the country, he said adding that interest rate on deposits should be lessened if required.
Industries Minister Amir Hossain Amu said the government wants to encourage rural economy by expanding small, cottage and medium enterprises to reduce pressure on urban areas. He said big companies are establishing industries in different Bisic Industrial Areas though some of the entrepreneurs can not expand their industries for scarcity of lands. Those who could not establish industries at the allotted plots in the Bisic area will have their plots canceled, the minister warned.
Speaking at the programme, Bisic chairman Ahmed Hossain Khan said new initiatives have been taken to establish 24 more industrial areas across the country to decrease land insufficiency. Stating that some of the industrial areas have been developed unplanned, he said steps have been taken to solve these type of problems.
In response to the business communitys allegation that SME loans are hard to get, Bangladesh Bank deputy governor SK Sur Chowdhury said Tk 38,858 crore was distributed as SME loans in 2010 whereas over Taka one lakh crore have so far been distributed in 2015.
